STR: Preliminary December data for Abu Dhabi hotels
LONDON -- STR's preliminary December 2017 data for Abu Dhabi, United Arab Emirates, indicates significant performance growth.
Based on daily data from December, Abu Dhabi reported the following in year-over-year comparisons:
- Supply: +1.5%
- Demand: +9.6%
- Occupancy: +8.0% to 79.4%
- Average daily rate (ADR): +2.1% to AED496.70
- Revenue per available room (RevPAR): +10.2% to AED394.39
STR analysts attribute the month's performance growth to the International Diabetes Federation Congress (4-8 December 2017), which helped push the market's occupancy above 85% on four consecutive nights. The month's absolute occupancy level would be the highest for any December on record since 2004.
STR will release full December and total-year 2017 results later this month. The January edition of STR's market forecast will be available by the end of the month.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. For more information, please visit str.com.